Moors & Cabot Inc. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Moors & Cabot Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,643 shares of the transportation company’s stock after selling 1,540 shares during the quarter. Moors & Cabot Inc.’s holdings in CSX were worth $2,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Darwin Wealth Management LLC bought a new stake in CSX during the third quarter valued at about $58,000. First Horizon Advisors Inc. increased its holdings in shares of CSX by 19.9% in the third quarter. First Horizon Advisors Inc. now owns 18,283 shares of the transportation company’s stock worth $631,000 after purchasing an additional 3,031 shares during the last quarter. Factorial Partners LLC increased its holdings in shares of CSX by 13.7% in the third quarter. Factorial Partners LLC now owns 95,500 shares of the transportation company’s stock worth $3,298,000 after purchasing an additional 11,500 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of CSX by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,521,214 shares of the transportation company’s stock worth $225,178,000 after purchasing an additional 146,973 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stephens reduced their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus reduced their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Loop Capital reduced their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Barclays boosted their price objective on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Down 0.1 %

Shares of NASDAQ CSX opened at $34.57 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm has a market capitalization of $66.67 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.23 and a beta of 1.19. The stock has a 50 day moving average price of $34.39 and a 200 day moving average price of $33.92. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Sell-side analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. CSX’s dividend payout ratio is currently 25.81%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.